The finance ministers of the Republic of Korea and Ukraine, Choi Sang-mok and Sergey Marchenko, signed a framework agreement in Washington to provide Kyiv with favorable long-term loans for 2.1 billion USD, the Korean Ministry of Planning and Finance announced.
“In particular, the conclusion of this framework agreement through the Fund for Economic Development and Cooperation lays the legal basis for the provision of medium and long-term loans in the amount of USD 2.1 billion . The parties agreed to jointly study projects that could help rebuild and develop Ukraine,” said Seoul.
The Economic Development and Cooperation Fund, through which the money is distributed, was established by the Republic of Korea in 1987.
Choi Sang-mok recalled that the President of the Republic of Korea Yoon Seok-yeol announced that 2.3 billion USD would be allocated to Kyiv in September 2023. 200 million USD of that money will go to humanitarian aid am- year. South Korea’s finance minister expressed hope for strengthening economic cooperation with Ukraine and asked for help so that companies from the Republic of Korea can take an active part in the reconstruction of this country in Eastern Europe. .
The Republic of Korea provided humanitarian and financial aid and supplied Ukraine with non-lethal military equipment, such as mine detectors, but no weapons.
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Assessment 3.1 from 19 voice
2024-04-21 07:35:00
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